NEW YORK: An industry trade group says manufacturing companies grew faster in August as the US industrial sector continues to lead the recovery. Rising exports overseas and demand from businesses for capital equipment and supplies have helped propel production in factories for a year. The Institute for Supply Management says its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing sector has...

WASHINGTON: US service firms grew at a slightly faster pace in June, as business activity and new orders increased. The Institute for Supply Management says that its services index edged up to 56 in June from 55.7 in May. Any reading over 50 indicates that services firms are expanding. Steady hiring over the past year has fueled a consumer spending rebound from a winter slump. Many economists say the economy will expand at an annual rate of 2.5...

NEW YORK: A trade group's measure of the health of the US manufacturing sector contracted for the 14th straight month in March, but at a slower pace than expected. The Tempe, Arizona-based Institute for Supply Management says its manufacturing index rose to 36.3 percent last month from 35.8 percent in February. Economists surveyed by Thomson Reuters expected the index to rise to 36. A reading below 50 signals contraction. The index hit a 28-year low of 32.9 in December.

NEW YORK: US stocks closed higher on Wednesday after fluctuating throughout the day as data showed a surprise jump in private sector jobs and solid growth in the service sector. After opening to the downside despite the positive data, the Dow Jones Industrial Average rose 32.70 points (0.28 per cent) to 11,723.88 in closing trades. The S&P 500 index, a broader measure of the market, was up 6.39 points (0.50 per cent) to 1,276.58, while the tech-rich ...

BEIJING: China's manufacturing growth accelerated for the first time in four months, easing concern that monetary tightening may lead to a slowdown in the world's second-biggest economy. The Purchasing Managers' Index rose to 53.4 in March from 52.2 in February, the China Federation of Logistics and Purchasing said in a statement on its website on Friday. The reading compared with the median forecast of 54 in a Bloomberg News survey of 17 economists. A separate PMI released by HSBC...

LONDON & NEW YORK: As gains at his hedge fund tumbled from 49% in 2009 to 3% last year, Pierre Philippon of London-based Zadig Asset Management was hearing from clients. They wanted to know if the company, which runs the Zadig Fund that beat 91% of rivals since 2006 even with last year's return, would give them a way to bet only on stock gains as the Standard & Poor's 500 Index posted its biggest rally in five decades. He complied, loading up a new fund with companies such as...

NEW YORK: US stocks slumped Monday over weak consumer spending figures and ahead of key data later this week expected to show the US economic recovery is slowing down. The Dow Jones Industrial Average was down 140.92 points (1.39 per cent) to 10,009.73 in closing trade, while the broader S&P 500 index lost 15.67 points (1.47 per cent) to 1,048.92. The tech-rich Nasdaq composite index shed 33.66 points (1.56 per cent) to 2,119.97 as daily trade volume remained...

LONDON & NEW YORK: As gains at his hedge fund tumbled from 49% in 2009 to 3% last year, Pierre Philippon of London-based Zadig Asset Management was hearing from clients. They wanted to know if the company, which runs the Zadig Fund that beat 91% of rivals since 2006 even with last year's return, would give them a way to bet only on stock gains as the Standard & Poor's 500 Index posted its biggest rally in five decades. He complied, loading up a new fund with companies such as...

BANGKOK: Asian stock markets posted muted gains Tuesday as investors awaited the outcome of the U.S. midterm elections and the Federal Reserve's two-day meeting amid speculation over stimulus programs. Oil prices rose above $83 a barrel in Asia as stronger manufacturing in the world's two biggest economies _ the U.S. and China _ boosted optimism that demand for crude will improve. The Australian dollar jumped more than one U.S. cent to nearly $1...

NEW YORK: Wall Street absorbed another stream of bad economic readings Wednesday, turning modestly higher as investors shuttled between pessimism about a protracted recession and hopes that the nation might start to see some relief soon. The major indexes fluctuated throughout the session as more negative economic data came out. Investors were initially disheartened by each piece of news but shook off their disappointment ? until the next dismal report was...

BEIJING: China's manufacturing growth accelerated for the first time in four months, easing concern that monetary tightening may lead to a slowdown in the world's second-biggest economy. The Purchasing Managers' Index rose to 53.4 in March from 52.2 in February, the China Federation of Logistics and Purchasing said in a statement on its website on Friday. The reading compared with the median forecast of 54 in a Bloomberg News survey of 17 economists. A separate PMI released by ...

NEW YORK: US stocks closed higher on Wednesday after fluctuating throughout the day as data showed a surprise jump in private sector jobs and solid growth in the service sector. After opening to the downside despite the positive data, the Dow Jones Industrial Average rose 32.70 points (0.28 per cent) to 11,723.88 in closing trades. The S&P 500 index, a broader measure of the market, was up 6.39 points (0.50 per cent) to 1,276.58, while the tech-rich Nasdaq ...

BANGKOK: Asian stock markets posted muted gains Tuesday as investors awaited the outcome of the U.S. midterm elections and the Federal Reserve's two-day meeting amid speculation over stimulus programs. Oil prices rose above $83 a barrel in Asia as stronger manufacturing in the world's two biggest economies _ the U.S. and China _ boosted optimism that demand for crude will improve. The Australian dollar jumped more than one U.S. cent to nearly $1 after...

NEW YORK: An industry trade group says manufacturing companies grew faster in August as the US industrial sector continues to lead the recovery. Rising exports overseas and demand from businesses for capital equipment and supplies have helped propel production in factories for a year. The Institute for Supply Management says its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing...

NEW YORK: US stocks slumped Monday over weak consumer spending figures and ahead of key data later this week expected to show the US economic recovery is slowing down. The Dow Jones Industrial Average was down 140.92 points (1.39 per cent) to 10,009.73 in closing trade, while the broader S&P 500 index lost 15.67 points (1.47 per cent) to 1,048.92. The tech-rich Nasdaq composite index shed 33.66 points (1.56 per cent) to 2,119.97 as daily trade volume...

WASHINGTON: Unemployment in the US probably rose at a slower pace and the manufacturing slump eased this month as evidence mounted that the end of recession is in view, economists said before reports this week. The jobless rate rose 0.2 percentage point to 9.6%, the highest level in 26 years, according to the median of 58 estimates in a Bloomberg News survey. The gain would be the smallest since November 2008. A survey of purchasing managers may show manufacturing shrank at...

NEW YORK: A trade group's measure of the health of the US manufacturing sector contracted for the 14th straight month in March, but at a slower pace than expected. The Tempe, Arizona-based Institute for Supply Management says its manufacturing index rose to 36.3 percent last month from 35.8 percent in February. Economists surveyed by Thomson Reuters expected the index to rise to 36. A reading below 50 signals contraction. The index hit a 28-year low of 32.9 in December.

NEW YORK: Wall Street absorbed another stream of bad economic readings Wednesday, turning modestly higher as investors shuttled between pessimism about a protracted recession and hopes that the nation might start to see some relief soon. The major indexes fluctuated throughout the session as more negative economic data came out. Investors were initially disheartened by each piece of news but shook off their disappointment ? until the next dismal report was...